Albany Vacant Rental Program

Up to $75,000 for health and safety improvements to vacant, affordable rental units.

For owners of 2-5 unit rental properties in the City of Albany

Funding provided by NYS Homes and Community Renewal Targeted Home Improvement Program

Eligibility Guidelines

  • Home Improvements

    Bring vacant rental units to code, with a focus on Health and Safety improvements

    Improve Energy Efficiency

    Replace Roof

    Updated HVAC

    Update Electrical System

    Lead Water Service Line Replacement

    Improve kitchens and baths

  • Property Eligibility

    A 1-5 unit property

    Located in the City of Albany

    Mixed-use properties are eligible

    Unit is currently vacant and in need of repair

    Owner cannot displace a tenant to create vacancy

  • Owner Eligibility

    Owner occupant with vacant rental unit

    Investor owner including LLCs and nonprofit organizations

    Be considered a Responsible Owner: current with mortgage, taxes, no history of unresolved code violations or Fair Housing violations, and more

    Willing to retain ownership of property for 10-year term

    Agree to rent units to eligible tenants at affordable rents

Program Details

  • Complete an application and let us know what work needs to be completed.

  • Provide documents to show you are eligible for the program:

    • Picture ID with home address

    • Income documentation (see application)

    • Current Homeowners Insurance

    • Utility Bill

    • Recent Bank Statements

    • AHP will document that you own the property in an eligible area, and are current with property taxes.

  • Schedule a home inspection with us to develop a work scope.

  • Sign Agreement regarding work to be completed, estimated grant amount and more. See sample document here.

  • Sign Declaration of Interest document to be recorded at County Clerk’s office.

  • If the home is sold or no longer occupied by the homeowner, funds may be recaptured:

    • Award less than $5,000 - 2 year regulatory period

    • Award of $5,001 to $10,000 - 5 year regulatory period

    • Award over $10,001 - 10 year regulatory period

Application Form